On Tuesday, Microsoft Ventures announced its next step to drive progress in artificial intelligence (AI) and make AI accessible for all by launching Innovate.AI, a global startup competition.
“Since launching Microsoft Ventures last year, we’ve invested in more than 40 remarkable startups including AI innovators like Agolo, Bonsai, Crowdflower and Livongo,” writes Peggy Johnson, executive vice president, Business Development. “We also formed an AI fund to support startups focused on inclusive growth and a positive impact on society. But we still want to do more.”
Through Innovate.AI, startups are being asked to create or leverage transformative AI technologies to apply for a chance to win $1 million from Microsoft Ventures and participating venture capital (VC) partners and $500,000 in Azure credits. In addition, one standout finalist will be awarded $500,000 in venture funding and $500,000 in Azure credits from Microsoft Ventures as part of the AI for Good Prize, which acknowledges their use of AI to better society. The winners will extend across three regions – North America, Europe and Israel – for a total of four winners and a combined $3.5 million in investment funding.
Read Johnson’s post on The Official Microsoft Blog.